Veloz: California passes 2M EVs sold cumulatively
26 November 2024
Veloz’s Q3 2024 California EV Market Report showcases a continued rise in electric vehicle (EV) adoption statewide. According to the latest data from the California Energy Commission (CEC), 115,897 new EVs were sold, propelling California past the milestone of 2 million cumulative EVs sold.
California’s new EV market share reached 26.4% this quarter, marking its second-highest sales share to date. Representing a 30.3% of US EV sales, according to the California Air Resources Board (CARB), California has seen continued EV adoption in the broader consumer market. This growth trajectory is bolstered by federal, state and local incentives that reduce ownership costs, expanded charging network investments, and collaborative efforts among state officials, automakers, non-governmental organizations, charging providers and more.
Historically, Q3 has often seen a decline in total light-duty vehicle sales due to seasonal economic factors, including reduced consumer spending during summer months. In Q3 2024, while total California’s new light-duty vehicle sales experienced a decline, EV sales showed a comparatively smaller drop, resulting in an increased market share.
In Q3 2024, Ford solidified its position as the Nº 2 electric vehicle brand in the US, with a 12% EV sales increase in Q3. Hyundai also saw significant growth, with its IONIQ 5 remaining one of the best-selling EVs in the US, achieving 30,318 units sold through the first nine months of the year—marking a 20% increase from 2023.
Tesla’s California sales declined this quarter with a 3.5% drop in sales. However, the Model Y and Model 3 remain the top-selling vehicles in the state. BMW and Stellantis maintained strong momentum, with BMW reporting US sales of 12,311 battery electric vehicles (BEVs), representing 15.8% of its total sales. Stellantis achieved impressive results with the Jeep Wrangler 4xe, selling 10,866 units and securing its position as the top-selling plug-in hybrid in the US, accounting for 30% of Wrangler sales.
These trends reflect an expanding range of EV options, empowering consumers to find models that best meet their needs and preferences, contributing to an overall market growth that saw EVs capture 8.9% of total US sales in Q3.
Access to reliable public charging is one of the most common barriers to EV adoption and the National Electric Vehicle Infrastructure (NEVI) program is instrumental to the expansion of California’s EV charging network. California’s NEVI Deployment Plan outlines a strategy for using the state’s $384-million share of federal NEVI funds to develop a network of high-powered DC fast chargers along federally designated Alternative Fuel Corridors.
As of August 2024, California has installed more than 150,000 public and shared private EV chargers, comprising 137,648 Level 2 chargers and 14,708 fast chargers. Additionally, more than 500,000 private home chargers have been installed across the state, further supporting the growing adoption of electric vehicles. In September 2024, California awarded more ethan $32 million in federal funds to install and maintain 458 direct-current fast chargers along interstates and highways, enhancing the reliability and accessibility of EV charging for drivers statewide.
Electrify America, a Veloz member, received $6.5 million to install 62 fast chargers along major routes in California as part of a broader initiative by the California Energy Commission (CEC) and Caltrans to deploy more than 450 fast chargers along interstates and highways. Electrify America has also invested in 30 solar-powered, off-grid Level 2 EV charging stations across 24 rural California communities, providing renewable energy-powered charging solutions, especially in disadvantaged and low-income areas.
Similarly, EVgo, another Veloz member and one of the largest public fast charging networks in the US, was awarded more than $12.7 million in preliminary NEVI funds to expand fast charging infrastructure across California, Colorado, and Pennsylvania, supporting the development of over 150 new fast charging stalls.
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